House prices creeping up

New Zealand house prices recovered last month to be close to levels of a year ago, supporting views the economy has emerged from its longest recession in more than 30 years, Reuters reported today.

Quotable Value's residential house price index fell 1.1 per cent in the year to September, compared with a 2.8 per cent decline the previous month - the sixth month in a row the trend in property values has improved.

The government agency said there were signs of more activity in the market with an increase in the number of sales and more listings in many areas.

However the activity is patchy, with some markets much stronger than others, making it harder to estimate national trends, QV spokeswoman Glenda Whitehead said in a statement.

"The market is still clearly in a state of change," she told Reuters.

To read the full NZ Herald article, click here

Posted: 13 Oct 2009

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